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What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

UK Factors-FTSE seen falling around 0.9 pct at open

Reuters - UK Focus

LONDON, Sept 23 (Reuters) - Britain's FTSE 100 index is seen opening down by 51-54 points, or 0.9 percent lower, on Wednesday according to financial bookmakers. For more on the factors affecting European stocks, please click on .

* The UK blue chip index closed down 2.8 percent at 5,935.84 points on Tuesday.

* CHINA: Activity in China's factory sector unexpectedly shrank to a 6-1/2 year low in September, a private survey showed, raising fears of a sharper slowdown in the world's second-largest economy that could spell more turmoil for financial markets.

* BBA AVIATION (LSE: BBA.L - news) : British aircraft services company BBA Aviation Plc (Other OTC: BBAVF - news) is in talks to acquire U.S (Other OTC: UBGXF - news) . competitor Landmark Aviation, which could be valued at more than $2 billion, including debt, according to people familiar with the matter.

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* SWISS RE (Xetra: A1H81M - news) /GUARDIAN FINANCIAL: Swiss Re AG said on Wednesday its business unit Admin Re would buy Guardian Financial Services from private equity firm Cinven for 1.6 billion pounds ($2.45 billion).

* BHP BILLITON (NYSE: BBL - news) : BHP Billiton confirmed on Wednesday it paid no tax on its global marketing base in Singapore, but said it was not the only reason for using the island state as a commodities trading hub and that it paid a fair share of tax worldwide

* UBM : Cision, a provider of public relations software and intelligence, is working on a bid to acquire press release distributor PR Newswire Association LLC, according to people familiar with the matter.

* OIL PRICE: Oil prices dipped on Wednesday, reversing early gains, as weak economic data from China weighed on commodities and added to the woes of an oversupplied market that has seen prices more than halve since June 2014.

* METALS PRICES: London copper was near its lowest level in four weeks on Wednesday and at risk of falling further after a survey revealed worsening factory activity in China, and a growing risk that the world's second-largest economy is headed for a hard landing.

TODAY'S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit http://topnews.reuters.com (Reporting by Sudip Kar-Gupta)